US Treasury hands CCP resolution powers to FDIC

Mnuchin regulatory review explicitly refers to FDIC as receiver under a Title II resolution

Baton passing
Passing the baton: the FDIC would be in charge of the failure resolution of financial market infrastructure

The second phase of the US Treasury Secretary’s review of financial regulation has endorsed the idea of special resolution powers rather than bankruptcy as the way to handle a distressed derivatives clearing house. And it provides official support for the Federal Deposit Insurance Corporation to act as a receiver in such circumstances.

“The report states without qualification that the FDIC would be in charge of the failure resolution of financial market infrastructure, such as a systemically

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